Markets
‘Massive Legal Siege’ Against Social Media Companies Looms
Thousands of plaintiffs' complaints, millions of pages of internal documents and transcripts of countless hours of depositions are about to land in US courtrooms, threatening the future of the ...
AI-Powered Home Insurance Startup Expands in Risky Florida Market
Stand Insurance has raised $35 million in a Series B funding round to expand its artificial intelligence-powered coverage for homeowners. The company targets insurance markets deemed risky, with ...
Too Much Profit? Progressive’s Florida Results Generate Nearly $1B Q3 Charge
Progressive posted $2.6 billion in third-quarter net income last week in spite of taking a nearly $1 billion charge to account for excess profits the carrier will have to return to Florida auto ...
New California Law Aims to Stabilize Insurance for Those Unable to Get Private Coverage
California Gov. Gavin Newsom signed a bipartisan bill that aims to prevent the state's home insurer of last resort from running out of money following a natural disaster. The FAIR Plan is an ...
Illinois Sues State Farm for Refusal to Release Homeowners Insurance Data
The State of Illinois is suing State Farm for refusing to provide nationwide homeowners insurance data at the request of the Illinois Department of Insurance (IDOI). Attorney General Kwame Raoul ...
Analysis: State Farm Bolsters Surplus by Freeing Up Billions in Loss Reserves
Despite devastating California fires causing upward of $40 billion in losses for U.S. property/casualty insurers, the industry still managed an underwriting profit of $11.6 billion in the first half ...
Executive Viewpoint: Reimagining Personal Lines Risk – Now and for the Future
For decades, personal lines insurance has taken a repair-and-replace approach to our business. As president of Nationwide's Personal Lines, I've seen the impact this approach has on our customers and ...
Bold Penguin Acquires SquareRisk to Expand Specialty, E&S Access
InsurTech Bold Penguin said it has acquired SquareRisk, a digital, artificial intelligence-enabled wholesale insurance marketplace. Bold Penguin said users of its quoting software will now have ...